coming up next, find out why applied materials is chipping away at it workforce. >>> romney and obama spar over the economy with the presidential challenger coming out swinging. the ecb seeing holding steady on rates when central bankers meet today. spain sees yields fall as the finance minister tries to drum up interest in the country's bad bank. >>> in an interview with swiss paper, it was conceded swa it tz would struggle to reach its target. while it pledges it future to its home country, fiat could be doing the opposite. in an interview, the ceo says the firm won't be launching any new molds in italy before 2014. and says the firm has stopped investing in italy and would have gone bankrupt if it had pressed ahead with plans to renovate in that country. applied materials plans to cut between 900 and 1300 jobs. that's 6% to 9% of its workforce. the chip equipment maker has been struggling with lower sales. it hopes to achieve most of the cuts through retirement packages. stock trading down today in the german listing. this is a three month chart. over that period, down by over 3.5%